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Tag Archives: Dawn

Historical Customs Clearance Evidence Data of Sept available now

ISLAMABAD: After great success of valuation rulings and other important gadgets, Customs Today website has started uploading very crucial Historical Customs Clearance Evidence Data to facilitate the importers. Initially three months –June to August –data was posted, however, it was promised to update this data every month on regular basis. Now Customs Today has fulfilled its commitment and posted the ... Read More »

Dar, Bajwa select 77,500 returns for audit through balloting

ISLAMABAD: Random computer ballot was conducted on Thursday at Federal Board of Revenue, Islamabad for selection of cases for audit for Tax Year 2013 and Tax Period 1st July 2012 to 30th June, 2013 in respect of Income Tax, Sales Tax and FED. The Minister for Finance, Revenue, Economic Affairs, Statistics and Privatization, Senator Muhammad Ishaq Dar was the chief ... Read More »

Monthly tax collections

The Federal Board of Revenue (FBR) has decided to get monthly reports of tax collections across the country and has directed the subordinate departments, including field formations, to send reports of all the tax collections electronically to the headquarters to make a comparison of the tax collections on monthly basis. The field formations have been directed to meet the target ... Read More »

Dilemma of taxpayers

According to newspaper reports, the Federal Board of Revenue (FBR) has decided to audit 15 percent of the annual income tax returns which were filed in 2013. The returns will be selected through random ballot and the exercise is meant for identifying those taxpayers who do not show their exact income in their tax returns. Earlier, at least five percent ... Read More »

Action against ‘fake’ fabric importers soon: Asif Marghoob

KARACHI: The Directorate General of Intelligence and Investigation-FBR, Karachi has yet not finalised the fate of the case in which the Anti-Smuggling Organisation (ASO) seized six trucks of imported fabric from the godown located in Allahwala Market near Lucknow Plaza. Reliable sources informed Customs Today that the Director I&I Karachi Asif Marghoob Siddiqui on Friday held a meeting with the ... Read More »

Downward trend in used cars import feared to continue

KARACHI: During the fiscal 2013-14 ended June 30 this year the imports of used cars helped the exchequer earned revenue of over Rs 9 billion in customs duty which was half of over Rs 18.1 billion during fiscal year 2012-13. The substantial reduction in the customs duty earning could be attributed to one solo factor- the substantial decrease in the ... Read More »

Economic diplomacy

LAHORE: The world scenario has been changing at a fast rate for the last few decades. Colonialism has ended but curse of poverty is haunting the mankind. The industrial revolution in 20th century pushed the colonial powers to pack up and leave behind a legacy of hunger, illiteracy and fierce political contentions in the lands of their subjects. But it ... Read More »

Misusing DTRE: FBR plans crackdown on importers, exporters

KARACHI: The Directorate of Internal Audit of Pakistan Customs on the directives of Federal Board of Revenue (FBR) has started the audit of Duty Taxes Remission on Export (DTRE) and examination sector for the year 2013-14. According to details, the FBR authorities have asked the directorate of internal audit to finalize its audit report this week and submit it to ... Read More »

Aftershocks of Imran, Qadri sit-ins

LAHORE: The aftershocks of the sit-ins by the Pakistan Tehreek-e-Insaf chief Imran Khan and Pakistan Awami Tehreek chief Dr Tahirul Qadri have begun to visibly appear in the economic horizon of the country after the postponement of Chinese President Xi Jingping’s visit to Pakistan. It was hoped that flood doors of the foreign direct investment would open in Pakistan with ... Read More »

Collector Saleem suspends principal appraiser for mismanagement

KARACHI: Different trade organisations have expressed deep concerns over the alleged negligence of the officials working in the Free Trade Agreement (FTA) Cell at Customs House, Karachi, and demanded steps to improve its working. According to details, the trade organisations were of the view that the officials concerned in FTA Cell were not making the use of automated system for ... Read More »

FBR to adopt effective mechanism for tax refunds: Tariq Bajwa

MULTAN: Federal Board of Revenue will adopt effective method of tax refund to overcome the hurdles of taxpayers, said Chairman Tariq Bajwa here on Monday. While addressing the Multan Tax Bar Association, Chairman FBR Tariq Bajwa said that taxpayer is our client and there is close link between bar and bench for the tax affairs. He said that tax bar ... Read More »

LCCI polls: Urdu Bazar, Paper Market traders back PIAF alliance

LAHORE: Traders of Paper Market and Urdu Bazar have announced to support the PIAF-Founders Alliance candidates in the elections of the Lahore Chamber of Commerce & Industry. The announcement was made at a grand reception by the Urdu Bazar and Paper Market traders in honor of PIAF-Founders Alliance associate class candidates Nasir Saeed, Syed Mahmood Ghaznavi, Khurram Lodhi, Raja Adeel ... Read More »

Customs, Rangers seize 6 trucks of imported fabric

KARACHI: Customs Intelligence and Investigation (I&I), Karachi in a joint raid with Pakistan Rangers at Lucknow Plaza located near Allahwala Market seized millions of worth smuggled imported fabric and arrested an accused on the spot. According to details, Additional Director, Customs I&I Nadeem Ehsan on a secret information constituted an ASO team comprising Haji Muhammad Aslam, Incharge ASO, Intelligence Officers ... Read More »

PRV Section of Appraisement-West recovers Rs7.4m in 23 cases

KARACHI: The Post Release Verification (PRV) Section of Model Customs Collectorate (MCC) of Appraisement-West has recovered an amount of Rs7418993 in 23 cases in the month of August-2014. According to details, the PRV Section of MCC-Appraisement (West) has recovered an amount of Rs297487 through a Goods Declaration (GD) No75124; recovered an amount of Rs61342 through a GD No13959 and recovered ... Read More »

Customs court summons ex-TCS chief, others on 10th in smuggling case

ISLAMABAD: Investigations into the TCS smuggling case reveal that the address mentioned in the agreement between TCS and Smart Zone company was not physically existed. Shahidullah Jan, deputy director customs intelligence Rawalpindi Directorate who is investigating the case, has also confirmed to Customs Today that there was no such office in Peshawar. On the other hand, Customs Special Court has ... Read More »

Weekly roundup: Rupee manages to reverse dollar blows

ISLAMABAD: The sentiments-driven rupee received blows on Monday on the back of what the market gurus called the political turmoil haunting the country’s feeble economy for more than two weeks in the name of Azadi and Inqilab marches led by Imran Khan and Tahirul Qadri. Followers of Khan and Tahirul Qadri have been massed outside Parliament since Aug 15 in ... Read More »

After Mobilink, Telenor misuses green channel facility to evade taxes

KARACHI: After high profile cases of tax evasion by country’s top telecom companies like Mobilink and Q-Mobile, now Pakistan Customs has detected another such tax fraud by Telenor Pakistan and blocked its 9 consignments for mis-declaring the classification of imported equipment to be used for company’s 3G projects. It was disclosed after the examination of these consignments that M/s Telenor ... Read More »

WeBOC ensures early clearance of rebate claims: Karim Adil

SIALKOT: Sialkot Assistant Collector Customs Syed Karim Adil has said that the recently established WeBOC (Web Based One Customs) system at the Sialkot Dry Port is helping a lot in early clearance of the rebate claims. Addressing a seminar about WeBOC at the office of the Surgical Instruments Manufacturers Association, he added that WeBOC was an advanced system purely meant ... Read More »

NATO containers stealing: M/s Water Link submits interim reply

KARACHI: The M/s Water Link has submitted 18-page interim written reply in the Collectorate of Customs Adjudication on Friday (August 29). The sources informed Customs Today that the M/s Water Link in its written reply adopted a view point that the NATO/ISAF containers at the retrograde route of Afghan Transit Trade had been stolen on the way and rivets had ... Read More »

Customs Preventive seizes smartphones at Karachi airport

KARACHI: The Model Customs Collectorate (MCC) of Preventive has seized 114 smartphones of latest models worth Rs 5 million from a passenger at the Karachi airport. MCC-Preventive Assistant Collector Engr Mukhtar A Shaikh informed Customs Today that a passenger tried to bring expensive cell phones from Dubai, including BlackBerry, iPhones, S4 Galaxy, S5 Galaxy and others, but the timely action ... Read More »